Mumbai, Oct 1 (IANS): Video surveillance products and solutions provider Prama Hikvision on Tuesday announced it has invested Rs 500 crore in a world-class security and surveillance manufacturing facility at Vasai in Palghar district, Maharashtra.

The plant aims to fulfill over 35 per cent of the domestic market demand monthly, the company said in a statement.

Employing over 2,000 skilled and semi-skilled employees, the facility spread over 12 acres of land will have the capability to manufacture over 850 product models.

"We have so far invested Rs 500 crore in this new plant with further investment commitments in the pipeline to ramp up productions, local R&D, skilling and giving back to the communities," said Ashish P. Dhakan, MD and CEO, Prama Hikvision India Pvt. Ltd.

The new unit has an installed capacity to make 1.5 million cameras per month.

"To upskill a significant part of the workers in this factory, many of them being unemployed before joining us, we have developed in-house training programs comprising world-class modules thus bringing them into the mainstream socio-economic fold," informed Dhakan.

Dr V.K. Saraswat, member, Niti Aayog and former Director General DRDO and Dr Neeraj Sinha, Adviser, Science and Technology, inaugurated the new facility.

Prama Hikvision has over 35 per cent market penetration in the video surveillance camera industry in India.